Economy, asked by rinamondal5457, 4 months ago

what is the meaning law of demand

Answers

Answered by Braɪnlyємρєяσя

Explanation:

The law of demand states that other factors being constant (cetris peribus), price and quantity demand of any good and service are inversely related to each other. When the price of a product increases, the demand for the same product will fall.

Answered by Itzprincess29

Answer:

Definition: The law of demand states that other factors being constant (cetris peribus), price and quantity demand of any good and service are inversely related to each other. When the price of a product increases, the demand for the same product will fall.

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